Week 2 tasks Q ~ Search in Document Home Insert Design Layout References Mailings Review View Acrobat '+ Share ~ Helvetica Neue 11.5 A AV AV A AaBbCcDdE AaBbCcDdE AaBbCcDc AaBbCcDdEE Paste B I U . abe X2 X2 A & A Normal No Spacing Heading 1 Heading 2 Styles Create and Share Request Pane Adobe PDF Signatures x Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates Based on the graph below that contains cost lines for a perfect competitive firm or price taker, answer the following A-D questions: 20 19 18 17 16 15 14 13 12 11 10 0 1 2 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 - - . average cost (ATC) . . average variable cost (AVC) marginal cost (MC) (A) Below what price level in the graph, the firm would shutdown? (B) Provide one combination of price and quantity that would represent a profit-maximizing production level for this firm making positive economic profits (C) If the firm was incurring losses but still would operate in the short run, which point in the graph (price and quantity) would represent a loss-minimizing production level? (D) If this firm was in long-run equilibrium, which point in the graph (price and quantity) would represent the profit-maximizing production level? Page 1 of 1 151 words X English (United States) + 116%